Ohio Ag Connection - Wendy's Board Authorizes 21 Percent Dividend Increase

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Wendy's Board Authorizes 21 Percent Dividend Increase
Ohio Ag Connection - 02/21/2018

The Wendy's Company announced that its Board of Directors has authorized a 21 percent increase in the quarterly cash dividend rate from 7 cents to 8.5 cents per share. The increase will be effective with the next quarterly dividend payment, which is payable March 15, 2018, to shareholders of record as of March 1, 2018. The approximate number of common shares outstanding as of February 13, 2018 was 239.5 million.

The Company also announced today that its Board of Directors approved a new share repurchase program for up to $175 million of the Company's common stock through March 3, 2019. The Company intends to repurchase shares with existing cash on its balance sheet and cash flow from operations.

"We are pleased to announce a 21 percent increase in our quarterly dividend and a new share repurchase program as returning cash to shareholders remains a key priority for us," President and Chief Executive Officer Todd Penegor said. "This is now the 6th consecutive year that we have increased our dividend, which is a testament to the strong cash flow generation from our sustainable and predictable business model."

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